Question: Which Part Of Tertiary Sector Is Growing In Importance And Which Is Less Productive?

Which sector is the most important?

The primary sector is a base for most of the other products that we subsequently make.

Since most of the natural products we get are from agriculture and related sector, the development of this sector leads to the development of services such as transport, trade, storage and the like..

Which Organised sector is the most important and why?

Answer: The most important organised sector is secondary and Tertiary sector. Explanation: Because with the help of these sector the production will occur easily and can earn profit to this both sector.

What is the role of the tertiary sector?

Role of tertiary sector in the Indian economy : Basic amenities like education, health care services related with Information Technology, ATM booths, call centres etc. provides employment to educated Indians. (ii) The share of tertiary sectors in GDP is growing day by day.

Which is the largest sector in Indian economy?

services sectorSector-wise GDP of India The services sector is the largest sector of India. Gross Value Added (GVA) at current prices for the services sector is estimated at 100.46 lakh crore INR in 2019-20. The services sector accounts for 54.77% of total India’s GVA of 183.43 lakh crore Indian rupees.

Which sector is the backbone of Indian economy?

There are 63.4 million MSMEs in India which contributes around 29% of India’s GDP, 49 % of exports, MSME sector is considered as the backbone of Indian economy, as it provides employment to 111 million people, said Shri Reddy.

What are the 3 main sectors of the economy?

The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).

Which sector is best for development of Indian economy?

Tertiary SectorTertiary Sector This sector contributes the largest in terms of share in GDP in India. The sector is also the service sector and is important when you consider the development of the other two sectors. Like the previous sector, this sector also adds the value to the products.

How does the primary sector contribute to the economy?

The primary sector is concerned with the extraction of raw materials. It includes fishing, farming and mining. … Typically as an economy develops, increased labour productivity will enable workers to leave the agricultural sector and move to other sectors, such as manufacturing and the service sector.

Why tertiary sector is growing rapidly in India?

1 Answer. Tertiary sector is growing rapidly because: (i) India’s economy is growing fast. Several services like hospital, educational institutions,post, telegraph, police, courts, municipality, transport, banks, insurance etc are needed.

Why tertiary sector is gaining importance?

2 Answers. i) The tertiary sector provides the basic services like public transportation, medical car, electricity ,banking, post office etc under the control of the govt. ii) The tertiary sector creates an huge area for employment even for uneducated and unskilled workers.

Which sector is gaining importance in India?

Why is Tertiary sector gaining importance in India? Explain any three reasons. (i) Basic services like education, healthcare, banking etc are required in a developing country like India, which are mostly cared of by the government.

Is the tertiary sector playing a significant role in the development of Indian economy?

Give reasons in support of your answer. Answer: No, it is not correct to say that the tertiary sector is not playing any significant role in the development of Indian economy. The tertiary sector has emerged as the largest producing sector in India replacing the primary sector.

Which is the most Organised sector of India?

In the organised private sector with more than 10 employees per company, the biggest employers in 2008 were manufacturing at 5 million; social services at 2.2 million, which includes private schools and hospitals; finance at 1.1 million which includes bank, insurance and real estate; and agriculture at 1 million.

Which sector is the most important sector What is its importance?

Primary sector is the most important sector of Indian​ economy.As the methods of farming changed and agriculture sector began to prosper,it produced much more food than before . The primary Sector accounts for 17 per cent of India’s GDP and employs 51 percent of the labour force in India .

Which sector is more important primary or tertiary?

The need for tertiary is increasing as there is more need of services like financial institutions, educational institutions etc. in Indian economy. 2. The tertiary sector accounts for most of the national and per capita income of India.

Which sector of economy is most important?

AgricultureOne of the most important sectors of the Indian economy remains Agriculture. Its share in the GDP of the country has declined and is currently at 14%. However, more than 50% of the total population of the country is still dependent on agriculture.

What are the 5 sectors of the economy?

Sectors of the Economy: Primary, Secondary, Tertiary, Quaternary and QuinaryPrimary activities. … Secondary activities. … Tertiary activities. … Quaternary activities. … Quinary activities.

What are 4 sectors of the economy?

The four sectors in the American economy are Government, For-Profit or Business, the Nonprofit or Independent, and Households or Family.

Why this Unorganised sector is more important?

Answer: Large number of people are found to be illiterate in India this is the main reason why there are more people working in unorganised sector . Organised sector consists of well-educated people therefore the main reason for number of people more in unorganised sector is their illiteracy.

What are the types of Organised sector?

Organised Sector In India employees of central and state governments, banks, railways, insurance, industry and so on can be called as organised sector.